EXHIBIT 11

CURAGEN CORPORATION AND SUBSIDIARY

COMPUTATION OF NET LOSS PER SHARE

(unaudited)



|                                                                                             |   |                              
|-------------------------------------------------------------------------------------------- | - | -----------------------------
|                                                                                             |   | Three Months Ended

March 31,
|                                                                                             |   |                              
|                                                                                             |   | 2001                         
|                                                                                             |   |                              
|                                                                                             |   |                              
|                                                                                             |   |                              
|Net loss before income taxes and minority interest                                           | $ | (6,100,175                   
|                                                                                             |   |                              
|                                                                                             |   |                              
|Income tax benefit                                                                           |   | 500,000                      
|Minority interest                                                                            |   | 245,563                      
|                                                                                             |   |                              
|                                                                                             |   |                              
|                                                                                             |   |                              
|Net loss                                                                                     | $ | (5,354,612                   
|                                                                                             |   |                              
|                                                                                             |   |                              
|                                                                                             |   |                              
|Basic and diluted net loss per share                                                         | $ | (0.11                        
|                                                                                             |   |                              
|                                                                                             |   |                              
|                                                                                             |   |                              
|Weighted average number of shares used in

   computing basic and diluted net loss per share |   | 46,895,716                   
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